Iran Oil Credits at CBI Account: TCCIMA Member

Speaking to Shana, Farhad Fozouni, a member of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA), said buyers of Iran’s oil open LCs for the country in foreign banks, documents of which are now deposited in Central Bank of Iran’s account. 

Fozouni’s remarks came in reaction to recent allegations that Iran does not receive any money for selling crude oil.

“Those who raise such matters have no idea about financial transactions in international markets and are only seeking certain goals,” he said. 

Institutions like the CBI and the Iranian Ministry of Petroleum are doing their job already, he added.  

“Some think that the oil money must be deposited in Iran’s accounts instantaneously while it usually takes 2 to 3 months for the money to be deposited and become accessible by Iran,” he added.